Consumers and real estate professionals alike are being provided erroneous information and hype through the typical media outlets. Much of the information is not been based on actual case studies and factual analysis, but rather public polls and opinions from so-called experts. This disconnect (between opinions and factual data) has lead to conflict between appraisers, agents and consumers concerning the value of “improvements” made to a property. Get the real story and learn:
• The source for popular reports used by newspapers and real estate magazines
• How to spot information that is not based on actual case studies
• That information can not be applied universally to all properties in all price ranges
• Reported costs do not always factor in true and complete costs
• Case studies of 3 projects that did not produce profits
• Case study of a project that did produce profit
• Analysis of actual cost and profits based on market response to final project
• The major cost component often not included - Time
• Examples of minor items that have lead to increased prices or market appeal
Course Objectives
As a result of taking this class you should:
1. Explain the source for commonly disseminated information
2. Understanding that information does not apply universally
3. Different markets and prices have different impacts on the practicality of a remodel project
4. An understanding of the general property area/type that may produce positive results
5. Provide better explanation to consumers how projects should be analyzed prior to purchase